All Forum Posts by: Markeilsha R.

Ok I'm gonna throw this out there and hopefully no one will get offended or think less of me for asking...

If you get a home under contract, but you're worried that you can't move it (assign) before the closing date, are there any stimuplations you can put in the original contract so you don't have to close the deal?

I dont mean to sound shady, but I do want to make sure I'm covered just in case.

(don;t shoot me I'm new.lol)

@Greg Potter

Thanks for the advise, I'll give them a call.

@Alex Craig thanks for the advice. I live about 3hrs from the site so visiting at that rate wouldn't cost too much if I has to manage a flip. I was under the impression that to wholesell I wouldn't actually have to rehab the property, rather, I would just show the buyer that the property had the value once it is rehabbed. Sometimes the discussion gets me a little mixed around between the two.

@CK Hwang & @Josh Sexton I will have the home under contract by tomorrow. The REO agent is sending the docs. I think I will go ahead and order an inspection. I was thinking I could get it under contract and turn it back around buy selling to a "we buy ugly houses" type of investor since I'm out of town, but if I do end up having to rehab it myself I want to know the damage. Thanks for all the advice guys!!

@CK Hwang

Thanks! All I know do far is that it need repairs prior to anyone moving in. I was thinking of soliciting contractor estimates for the property on craigslist. I was hoping to get that free. Do you think the home inspector something I can wait on and have the buyer take care of? I'm trying to get this deal done with the least (or no) expense possible.

How distressed is too distressed??

I found a deal and the REO agent wants to get the contract going now. The property, once repaired is worth 200k. I can get it under contract for less than quarter of that. the problem is that im out of the area and not sure how to go about doing repair estimates, along with the fact that I dont have a cash buyer on hand.

Has anyone done a deal on a distressed property that was in another region or state? How is this managed (estimates, etc) without going to see it? I have found a for a distressed property that would be really great, but it is in poor condition. I don't want to flip, I want to do a straight wholesale and get it off my hands as soon as possible, but I'm not sure how to approach the situation from a distance. Is it possible to do the whole deal via phone, email, fax etc.?

Firstly I'm new... So please bare with me--I'm still learning. A couple weeks ago I noticed my neighbors were suddenly gone, but occasionally they'd come back to collect certain items but never over night. I looked a few days ago at a foreclosure list in my area and discovered that the house was listed. A quick check online on the local tax office showed 30.5K in owed taxes and fees. Shortly after my neighbor revealed that they intended to sale. Now my question is after a home is in pre-foreclosure is there any way to determine if the foreclosure is due to a bank or taxes? I want to potentially put it under contract for a wholesale if I can get it for the cost of the taxes. The home is worth 81k (via tax assessor) and 79k zillow estimate. I am primarily interested in wholesaling, but I'm sketchy on estimates does this sound like a good deal?

Does anyone have a preffered or reccomended title company in the Syracuse, ny area?

Hi!

I'm new as well in the Syracuse and surrounding areas. I'm working on flips and wholesaling, and looking to build relationships with cash buyers and private lenders. If you'd like to connect I'm always looking for new opportunities for networking and establishing business relationships. Good luck:)